The Majestic Star Casino, LLC

The company was formed on December 8, 1993.

It opened the Majestic Star Casino in Gary, Indiana on June 7, 1996.

In December 2001, Majestic Star made its first expansion beyond Gary, acquiring three Fitzgeralds casinos from bankrupt Fitzgeralds Gaming for $149 million, in Las Vegas, Nevada, Black Hawk, Colorado, and Tunica, Mississippi.{{cite news|title=Detroiter Builds Out-Of-State Casino Empire|url=http://www.casinocitytimes.com/news/article/detroiter-builds-out-of-state-casino-empire-119934|accessdate=9 October 2011|newspaper=Casino City Times|date=21 April 2002}} Chief operating officer Michael Kelly, a former Fitzgeralds executive, engineered the deal.{{cite news|title=Fitzgeralds in bankruptcy, three casinos being sold|url=http://www.lasvegassun.com/news/2000/dec/06/fitzgeralds-in-bankruptcy-three-casinos-being-sold/|accessdate=9 October 2011|newspaper=Las Vegas Sun|date=6 December 2000}}

In April 2005, Majestic Star was selected to operate the casino at the French Lick Resort in French Lick, Indiana, being developed by a partnership of Lauth Property Group and the Cook Group.{{cite news|title=Cook-Lauth Name Majestic Star Casino For Orange County Project|url=http://www.insideindianabusiness.com/newsitem.asp?id=13569|accessdate=9 October 2011|newspaper=Inside Indiana Business|date=21 April 2005}} However, the Cook-Lauth partnership eventually decided to form its own casino management team, and Majestic's involvement ended amiably in September of that year.{{cite news|title=Majestic Star won't operate Orange County casino|url=http://www.lasvegassun.com/news/2005/sep/26/majestic-star-wont-operate-orange-county-casino/|accessdate=9 October 2011|newspaper=Las Vegas Sun|date=26 September 2005}}

In December 2005, Majestic Star acquired the neighboring Trump Casino in Gary from Trump Entertainment Resorts for $253 million, and renamed it as the Majestic Star II.{{cite news|title=Majestic Star buying Trump casino|newspaper=The Times of Northwest Indiana|first=Susan|last=Erler|date=November 5, 2005|url=https://www.nwitimes.com/news/local/majestic-star-buying-trump-casino/article_a6b49f0f-e708-5ecf-9840-d7e4592cbdbb.html|accessdate=2018-12-08}}{{cite press release|title=Trump Entertainment Resorts completes sale of Trump Indiana riverboat to Majestic Star|publisher=Trump Entertainment Resorts|date=December 21, 2005|url=https://www.businesswire.com/news/home/20051221005728/en/Trump-Entertainment-Resorts-Completes-Sale-Trump-Indiana|accessdate=2018-12-08}}

After Barden led an effort to legalize gambling in Pennsylvania, Majestic Star was awarded the only gaming license for Pittsburgh, beating out competing bids from Harrah's and Isle of Capri.{{cite news|last=Hamill|first=Sean|title=For Casino Owner, Winning a License Was Not a Matter of Luck|url=https://www.nytimes.com/2007/12/12/us/12pittsburgh.html|accessdate=9 October 2011|newspaper=New York Times|date=12 December 2007}} Construction began in December 2007 on the $450 million riverfront Majestic Star Casino, which was projected to double the company's yearly revenues to over $1 billion. However, after defaulting on a $200 million bridge loan and failing to pay contractors, Majestic had to hand control in August 2008 to a group led by JMB Realty chairman Neil Bluhm, lead investor in the SugarHouse Casino in Philadelphia, who bought 75% of the project, and renamed it the Rivers Casino.{{cite news|title=Pittsburgh's casino to get new name|url=http://www.bizjournals.com/pittsburgh/stories/2008/11/17/daily21.html|accessdate=9 October 2011|newspaper=Pittsburgh Business Times|date=18 November 2008}}{{cite news|title=Pittsburgh Casino Rescue Plan Would Reduce Don Barden's Role|url=http://www.wtae.com/r/16842841/detail.html|accessdate=9 October 2011|newspaper=WTAE.com|date=10 July 2008}} Barden kept his remaining stake in the project outside of the Majestic Star umbrella.

In November 2009, Majestic Star filed for bankruptcy, listing $406 million in assets against $750 million in liabilities.{{cite news|title=Majestic Star Casino files for bankruptcy|url=http://www.post-gazette.com/pg/09328/1015800-28.stm|accessdate=9 October 2011|newspaper=Pittsburgh Post-Gazette|date=24 November 2009}} The company cited the recession, increased competition from nearby properties, and a new smoking ban as reasons.{{cite news|title=Competition factor in Majestic Star bankruptcy|url=http://www.casinocitytimes.com/news/article/competition-factor-in-majestic-star-bankruptcy-195054|accessdate=9 October 2011|newspaper=Casino City Times|date=21 September 2010}} In December 2010, Majestic sued Barden, claiming that he changed the company's tax status without notice, costing over $2 million in additional tax liabilities.{{cite news|last=Rochelle|first=Bill|title=Majestic Star, Milwaukee Archdiocese, Broadstripe: Bankruptcy|url=https://www.bloomberg.com/news/2011-01-05/majestic-star-milwaukee-archdiocese-broadstripe-bankruptcy.html|accessdate=9 October 2011|newspaper=Bloomberg|date=4 January 2011}} The company's reorganization plan, filed the following month, would end Barden's ownership interest, while leaving other executives in place.{{cite news|last=Tweh|first=Bowdeya|title=Majestic Star files bankruptcy plan|url=http://www.nwitimes.com/news/local/lake/article_1d07d84f-d05e-520b-9292-5b4c98a61cbd.html|accessdate=9 October 2011|newspaper=Times of Northwest Indiana|date=21 September 2010}} The company left bankruptcy in 2011 under the majority ownership of Wayzata Investment Partners.[http://www.nwitimes.com/news/local/lake/gary/majestic-star-owner-out-of-bankruptcy/article_50f78f47-ca14-51e4-80e3-c287cefb657e.html Majestic Star owner out of bankruptcy]

In October 2011, several months after Barden's death, his estate sold Fitzgeralds Las Vegas to brothers Derek and Greg Stevens, majority owners of the Golden Gate casino.{{cite news|title=Fitzgerald's new owners plan makeover, new name|newspaper=Las Vegas Review-Journal|first=Caitlin|last=McGarry|url=http://www.lvrj.com/business/fitzgerald-s-new-owners-plan-makeover-new-name-132843123.html|date=October 29, 2011|accessdate=2012-03-13}}

In May 2012, Majestic Star agreed to sell Fitzgeralds Black Hawk for $28 million to Saratoga Harness Racing, owner of Saratoga Casino and Raceway in New York.{{cite news|title=Fitzgeralds Black Hawk sold for $28 million to N.Y. company|newspaper=Denver Post|first=Howard|last=Pankratz|date=15 May 2012|accessdate=3 July 2012|url=http://www.denverpost.com/breakingnews/ci_20627494/fitzgeralds-black-hawk-sold-28-million-n-y}} The sale closed in January 2013.{{cite news|title=Saratoga Harness buys Colorado casino|newspaper=The Saratogian|author=Paul Post|date=January 30, 2013|url=http://saratogian.com/articles/2013/01/30/news/doc5109396a5edb8906888513.txt|accessdate=2013-01-31}}

Majestic Star sold Fitzgeralds Tunica to Foundation Gaming in August 2018.{{cite news|title=New dealer: Fitz Tunica acquired by Mississippi company|newspaper=Memphis Business Journal|first=Jason|last=Bolton|date=September 4, 2018|url=https://www.bizjournals.com/memphis/news/2018/09/04/new-dealer-fitz-tunica-acquired-by-gulfport.html|accessdate=2018-12-08}}{{cite press release|title=Spectacle Entertainment to acquire Majestic Holdco|publisher=Spectacle Entertainment|via=Associated Press|date=November 28, 2018|url=https://www.apnews.com/ee9c76f0361741d295e8424ff1b9684f|accessdate=2018-12-08}}

In November 2018, the company agreed to be acquired by Spectacle Entertainment, a new firm owned primarily by two Indiana-based investors.{{cite news|title=Indy-based company agrees to buy Majestic Star|newspaper=The Times of Northwest Indiana|first=Andrew|last=Steele|date=November 28, 2018|url=https://www.nwitimes.com/business/local/indy-based-company-agrees-to-buy-majestic-star/article_1428fa02-aad6-5650-8d00-6c1b7f5ac3e9.html|accessdate=2018-12-08}} The buyers said they would lobby for permission to move the Majestic Star Casino inland within Gary, and to move the Majestic Star II's casino license to another city in Indiana.{{cite news|title=Former Centaur chairman makes bid for Gary casinos|newspaper=The Herald Bulletin|location=Anderson, IN|first=Stuart|last=Hirsch|date=December 4, 2018|url=https://www.heraldbulletin.com/news/former-centaur-chairman-makes-bid-for-gary-casinos/article_a777d64d-beb7-54c0-ade8-f9751a6f5236.html|accessdate=2018-12-08}}

• Majestic Star Casino − Gary, Indiana
• Majestic Star II − Gary, Indiana

• Fitzgeralds Black Hawk — Black Hawk, Colorado
• Fitzgeralds Las Vegas — Las Vegas, Nevada
• Fitzgeralds Tunica − Tunica Resorts, Mississippi

{{reflist|33em}}

• [http://phx.corporate-ir.net/phoenix.zhtml?c=148103&p=irol-IRHome Corporate profile]
• Las Vegas Review-Journal

• [https://web.archive.org/web/20070727090244/http://www.majesticstar.com/ The Majestic Star Casino, LLC web site]

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Category:Companies based in Las Vegas

Category:Gambling companies of the United States

Category:Economy of Gary, Indiana

Category:Companies that filed for Chapter 11 bankruptcy in 2009